CIBC Asset Management Inc Boosts Holdings in QuidelOrtho Co. (NASDAQ:QDEL)

CIBC Asset Management Inc grew its position in QuidelOrtho Co. (NASDAQ:QDEL) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,564 shares of the company’s stock after purchasing an additional 816 shares during the quarter. CIBC Asset Management Inc’s holdings in QuidelOrtho were worth $292,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Creative Planning purchased a new position in QuidelOrtho during the 3rd quarter worth $476,000. Allspring Global Investments Holdings LLC boosted its holdings in QuidelOrtho by 970.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,661 shares of the company’s stock worth $349,000 after acquiring an additional 6,945 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of QuidelOrtho by 4,460.0% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the company’s stock worth $208,000 after acquiring an additional 4,460 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of QuidelOrtho during the third quarter valued at about $7,411,000. Finally, Louisiana State Employees Retirement System boosted its stake in QuidelOrtho by 100.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the company’s stock worth $1,277,000 after purchasing an additional 14,000 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

QuidelOrtho Price Performance

NASDAQ:QDEL opened at $41.96 on Tuesday. The firm’s fifty day moving average is $43.41 and its two-hundred day moving average is $42.40. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -1.39 and a beta of 0.08. QuidelOrtho Co. has a one year low of $29.74 and a one year high of $49.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.22.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.44). QuidelOrtho had a negative net margin of 72.84% and a positive return on equity of 3.78%. Research analysts expect that QuidelOrtho Co. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QDEL. UBS Group upped their price target on shares of QuidelOrtho from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $50.00 in a research report on Wednesday, December 11th. Royal Bank of Canada lowered their price target on QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded QuidelOrtho from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Jefferies Financial Group initiated coverage on QuidelOrtho in a research note on Tuesday, December 10th. They issued a “hold” rating and a $43.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.20.

Insider Activity at QuidelOrtho

In other QuidelOrtho news, CEO Brian J. Blaser purchased 6,033 shares of the stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $41.42 per share, for a total transaction of $249,886.86. Following the completion of the transaction, the chief executive officer now owns 6,033 shares of the company’s stock, valued at $249,886.86. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.